India Remittances to India to drop by 9% in 2020: World Bank report Updated : October 30, 2020 12:07 AM IST The impact of COVID-19 is pervasive when viewed through the lens of migration as it affects migrants and their families who rely on remittances. Remittance flows to low and middle-income countries (LMICs) are projected to fall by 7 percent to $508 billion in 2020, followed by a further decline of 7.5 percent to $470 billion in 2021. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.